david-li-resigns-from-hong-kongs-executive-council

David Li resigns from Hong Kong's executive council

The chairman of the Bank of East Asia has bowed to public pressure and resigned from Hong KongÆs top policy-making body.
Bank of East Asia chairman David Li has bowed to mounting public pressure over insider dealing-related charges and resigned from Hong KongÆs cabinet Exco executive council.

Exco advises the chief executive on policy. Li's resignation comes two weeks after agreeing to pay the US Securities and Exchange Commission SEC a fine of $8.1 million to settle insider dealing-related charges, though, as is usual with these cases, Li has neither admitted nor denied the charges.

Hong KongÆs chief executive, Donald Tsang, said in a statement announcing the resignation that Li, ôregretted that the matter had caused public concern and thus wished to resign from the councilö. Tsang said he had asked Li to reconsider his...
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